Is it worth buying a small electric car?
EVs are most efficient in stop-and-go traffic. Plus, with such a short commute, you can get away with one of the shorter range city cars and save a bundle of money. Plus, the available range of most used EVs would be well above your needs, so you could get a really good deal on an older used EV. Lower retail demand They bring lower rates of tax, and many businesses are incentivized to get their employees behind the wheel of an electric vehicle. As a result, fleet demand for EVs has skyrocketed—but retail has been left falling, which directly impacts electric vehicle depreciation.Why Is Leasing an EV a No-Brainer? Leasing an EV offers lower upfront costs, affordable monthly payments, and flexibility to upgrade to newer models as technology advances.Electric vehicle sales in the U. S. Consumers remain concerned about the limited range of EVs. Freezing temperatures can reduce EV range by 32%. High prices and a lack of variety leave many consumers unenthusiastic.As the owner of a secondhand EV, I think there are two additional reasons why the secondhand market for EVs is becoming more competitive. One is that newer models often have more range and kit, so even models from 2021 or 2022 are discounted.
Is it worth buying an electric car in the UK now?
Lower running costs So, financially, electric cars are worth buying – purely for the savings. Refuelling with petrol typically costs around 19-21p per mile in the UK. Compare this to how you can save significantly with a home EV charger. Summary: In our opinion, electric cars are 100% worth the investment, mainly due to the significantly lower running costs, smoother, silent driving and no-emissions at the tailpipe.Expensive upfront costs And whilst the initial investment may be higher than a petrol car, it’s also worth considering the long-term savings on fuel and maintenance costs that electric vehicles can offer.Driving costs for electric cars are generally much lower than traditional cars, as electricity is cheaper than petrol/diesel. While the upfront costs of an electric vehicle can be more expensive than an equivalent petrol or diesel car, the cost of getting from A to B will be lower.
Do electric cars depreciate quickly?
Yes, EVs tend to depreciate more quickly than ICE vehicles, but this gap is closing, and is set to match their depreciation level over time. There are several factors which contribute to this depreciation which will be outlined throughout this guide. Older electric cars often lose some battery power over time. This can worry customers who need to travel long distances. People may fear the car will run out of power before they find a charger. The range of a used EV may be much lower than the original range.Data collected from thousands of EVs on the road reveals that today’s batteries typically retain 80-90% of their original capacity after 8-10 years or 100,000+ miles. This gradual capacity loss doesn’t render the vehicle unusable; it simply reduces the maximum range slightly over time.Electric cars are increasingly targeted by thieves due to their high value and advanced technology, making security crucial for salary sacrifice drivers who’ve upgraded from older vehicles.
What are the negatives of an electric car?
You can’t drive as far in an electric car The best electric cars now have ranges of well over 350 miles between charges. But many have a range of just 150 miles or less between charges, which means they are much more suited for use in cities and on short, local journeys, rather than for long-distance travel. As EVs get older, the batteries progressively degrade. It is expected that at around 75% of the battery’s original capacity, it has reached the end of its life in an EV. In reality what this means is that if the car was sold with 400 km driving range, at the end of its useful life it could be down to around 300 km.In fact, a recent study conducted by Cox Automotive showed that in 2022, 28% of those surveyed were concerned about the cost of a battery replacement. However, in most cases, EV batteries can be expected to last at least 10 years or 100,000 miles, and can last even longer with proper care.Recent studies show modern EVs can reach lifespans of 15–20 years, often matching or exceeding the average ICE vehicle lifespan of about 12–15 years.Most modern electric cars are engineered so their batteries last roughly 12–15 years in moderate climates, which usually works out to around 200,000 miles or more for typical U. S. The rest of the car, motors, body, chassis, can often go beyond that, much like a well‑maintained gas car.
What is the 80 20 rule for electric cars?
Simply, the 20-80% rule suggests keeping the battery of an electric vehicle charged between 20% and 80% of full capacity. It’s a method of electric vehicle charging meant to improve battery life. Think of it as the green zone. What is the 80/20 Rule in EV Charging. Ultimately, the 80/20 rule suggests keeping your EV charged between 20% and 80%, avoiding dipping below or exceeding the range whenever possible. This simple guideline can help reduce range anxiety and charging time while also extending battery life.